Etihad acquires full ownership of valuables management subsidiary under its cargo and logistics portfolio
Etihad Airways PJSC has acquired the shares held by Armaguard Linfox Group Pty (Australia) in Abu Dhabi-based joint venture Armaguard Valuables Management LLC (AVM), becoming sole shareholder of the company and renaming it Etihad Secure Logistics Services LLC.
In the six years since it began operations, AVM has successfully grown from a start-up to become a major player in the UAE secure logistics and valuables management market.
With increasing opportunities in their respective markets, both Etihad and Armaguard have agreed now is the right time for the business to operate as a full subsidiary of Etihad Airways PJSC as part of Etihad’s expanding cargo and logistics portfolio.
Gary Allen, Linfox Armaguard Group CEO comments: “The Armaguard Group is concentrating on continuing to strengthen the existing businesses in Australia and New Zealand while enhancing our services across South East Asia, and as such will withdraw from the UAE.”
“Etihad and Armaguard have shared a long history of working together to provide the best solutions for our customers. We will continue as a strong network alliance, servicing the global valuables market. We will continue to work together to ensure a seamless transition for our customers.”
Abdulla Mohamed Shadid, Managing Director Cargo and Logistics Services at Etihad Aviation Group, said: “Today we would like to express our gratitude to Linfox Armaguard for their partnership and support these past years. Our niche Etihad Secure Logistics business is increasingly ready to support the home market in its next phase of growth and development. This comes with increased investment in the valuables transportation and logistics segments in Abu Dhabi and the UAE, complementing the wider cargo and logistics offering at Etihad.”
The Armaguard Group of companies
Australian leader in secure currency management services, for over 70 years.
Integrated Technology Solutions (ITS)
Australian market leader in ATM services technology and complete line maintenance.
Guarding and secure transport services for the Australian market.
Armaguard Currency Management New Zealand (ACM NZ)
Leading provider of secure currency management solutions in New Zealand.
Integrated Technology Services NZ (ITS NZ)
New Zealand based provider of innovative payment technology and ATM services, exporting around the world.